Lake Arenal was expanded in 1978 to three times its original size as a hydroelectric project, by building a dam at the northeastern portion of Lake Arenal, Costa Rica. It is oriented east from the base of the Arenal Volcano, to the west towards Tilaran and is approximately 22 miles long.
The expansion of Lake Arenal flooded several small towns and the original town of Arenal lies under 190 feet of water, thus the name of the current city of Nuevo (New) Arenal.
Lake Arenal maintains a year round temperature of approximately 78 degrees and supports a growing sportfishing destination including the good eating Rainbow Bass known as Guapote. Lake Arenal also hosts some of the best windsurfing in Central America with winds that exceed 40 miles per hour.
Lake Arenal Costa Rica provides a great climate and lush mountainous topography, with rivers, waterfalls, volcanos and hot springs which are unique in all of Central America and the beauty will remind you of many other beautiful areas of the world, such as The Lake region between Switzerland and northern Italy.
While Costa Rica only covers .03% of the earth's landmass, the nation is endowed with over 5% of all her life forms. Costa Rica has preserved this incredible bio diversity in National Parks and restricted areas covering fully 25% of the country, which no other country in the world even comes close to.
Costa Rica is also the oldest democracy in Latin America, and in 1949 became one of the very few countries in the world to disband its army, so that it could redirect this money to needed social programs, education and welfare.
Costa Rica's free universal health care covers everything from maternity, to dentistry to open heart surgery and Costa Ricans enjoy a life expectancy exceeding that of North Americans. Medical care is modern and first class, yet 50% to 70% less the US, thus making medical tourism important to the economy here also. Medical insurance, available to foreigners is also a fraction of the cost than the US.
Education is another important factor in Costa Rica, with a literacy rate of over 96%, the highest in the Americas, together with the Governments pro business attitude has attracted numerous high tech companies to open facilities here to take advantage of the skilled and educated work force.
Taxes are also very low, and the low cost of living and good medical care, make retirement extremely affordable and attractive. Our excellent English speaking attorney, not only is an authorized representative for Stewart Title Insurance for your real estate needs, but his office also specializes in assisting you with your residency requirements also.
Tourism is the engine that fuels the Costa Rican economy and is up over 500% in the last 10 years alone. The Government is responding with new and better roads and new and improved airports to fuel this tremendous tourist boom the entire country is experiencing.
A 50 square mile, pristine fresh water lake high in the cool tropical mountains is fast becoming recognized as one of the premier upcoming real estate and touristic destinations in all of Central America.
Just a three and a half hour scenic drive from the Costa Rica capital, San Jose, or two hours from the new Liberia International Airport, the Lake Arenal region will remind you of many other beautiful places in the world such as the lakes between Switzerland and northern Italy. The ample rainfall and numerous rivers give it a cool but lush tropical annual ambiance known for its unique exotic and diverse flora and fauna.
Real estate prices in the Lake Arenal Costa Rica area are still low, especially compared to San Jose and the coastal areas and there are bargains to be found, as this area is still in the early stages of discovery.
WHY COSTA RICA
Costa Rica has no army, and the money that is spent on defense elsewhere is put into education, infrastructure, roads and social services. Costa Rica is safe and is often referred to as the Switzerland of Central America. Costa Rica is roughly the size of West Virginia. Costa Rica has a composite of climates and topographies, mountains, plains and coastal zones to choose from. Telephone, electricity, Internet and television services are modern and reliable. The medical facilities in the private hospitals are first class and a fraction of the cost in the US, as is the medical insurance available to foreign residents. Taxes are low and the cost of living makes retirement affordable and attractive in Costa Rica.
Land is available for as little as $1 per meter (about $4000 per acre) in larger parcels, some with springs, rivers and waterfalls and awesome views. Land in sub divided residential communities run between $12 and $40 per meter, some gated communities include pools, tennis courts and private lake side docks. There is much costa rica land in between from small home sites to farm lands over 1000 acres, and even several lake front properties with full access to Lake Arenal Costa Rica.
Lake Arenal offers a wide range of home prices. Tico (rustic) homes start as low as $30,000 on a small piece of land in many parts of Costa Rica. A more modern home on a half acre can be found starting at $100,000 to $250,000 range, some in gated communities. We have homes on large parcels of land, should you wish privacy. We also have a good selection of luxurious homes, including pools, tennis courts, guest cottages, rivers, ponds and even lakefront with private docks.
There are several lake front condo developments available with pools and tennis here on Lake Arenal in Costa Rica.
If you wish to build your dream home, we will recommend experienced architects and builders. Construction costs are low between $40 to $60 per square foot for quality first world construction.
We maintain a wide variety of commercial listings including small bed and breakfasts all the way to larger hotels with restaurants/bars and pools. We also have shops, bars and other commercial properties in all price ranges. We can also guide you in starting a new commercial venture and give you our ideas and experience on what new services we think would be successful in the area.
There are quality development opportunities in the Lake Arenal Costa Rica area, land sub division, spec homes, condo development and commercial activity which we are happy to discuss with you and guide you through the laws and regulations. We maintain excellent relationships with the governmental authorities necessary for permits for any development you are interested in. We work with and can recommend certified surveyors, engineers, and heavy equipment operators experienced in development of property at Lake Arenal Costa Rica.
We are in the early stages of a planned gated residential community to include homesites and model homes which will available completely furnished and include a community pool with recreation area, and long term financing.
RENTALS and PROPERTY MANAGEMENT
We offer long and short term vacation home rentals, from studio apartment to large luxury villas with swimming pools.
We provide property management services for owners who wish to rent their homes while not in Costa Rica, and regular inspection, maintenance programs for properties, including security, grounds, pool and house maintenance.
PURCHASING PROPERTY in Costa Rica
Costa Rican law does not restrict foreign ownership of Costa Rican property.
The Costa Rican Government operates a computerized public registry of properties in Costa Rica which provides information as to ownership, title, liens, encumbrances, boundaries, property taxes and other recorded documents, so that clear title can be assured when property is purchased. We recommend the use of a reputable attorney when purchasing property in Costa Rica and we can provide you with a list of honest lawyers.
Let Moran Lake Arenal Real Estate help you find your dream Costa Rica property on Lake Arenal.